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Does a bankruptcy discharged in May of 1997 come off your credit report now since it was before the law changed to 10 years?

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2015-07-15 18:43:12
2015-07-15 18:43:12

The statute of limitations on reporting chapter 7 bankruptcies for 10 years has been in place for many years prior to the Fair Credit Reporting Act being amended in 2003. A chapter 7 bankruptcy can be shown on your credit for 10 years from its date of discharge.

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Not if the debt was discharged in the bankruptcy. If the judgment was on the credit report before the bankruptcy was filed and/or was discharged in the bankruptcy, the entry will still remain on the CR for seven years.


Bankruptcy does not get discharged. Debts are discharged. The bankruptcy will remain on your credit report for 10 years from the date of filing. The debts that were discharged can remain for 7 years from the date of discharge, showing a zero balance and that they were discharged in bankruptcy.


Yes, discharged debts are generally noted as "included in bankruptcy" on a CR.


If a loan from a credit union has been discharged in bankruptcy court, that credit union cannot collect and must write the loan off.


The bankruptcy is not discharged. Your debt obligation is discharged. The discharge notice usually is mailed to you about 6 weeks after the 341 meeting. The filing of bankruptcy will stay on your credit report for 10 years from the date of filing.


Any foreclosure or bankruptcy affects your credit. And for anywhere from 7 -10 years.


:A bankruptcy under chapter 7 or 11, or a non-discharged or dismissed chapter 13 bankruptcy generally remains on your credit file for 10 years from the date filed. A discharged chapter 13 bankruptcy generally remains on your credit file for 7 years from the date filed.


It should be removed from the credit report in 2009. A bankruptcy remains on a credit report for ten years from date of discharge.


Yes, but only after the bankruptcy is removed from your credit report - which can take over ten years from the discharge.


Why not? All debts are discharged, but any other actions, such as evictions, are not affected. And the fact of being discharged in bankruptcy can stay on your credit report for 10 years.


No. No, As you a bankrupt. It may still be difficult after you have been discharged as you may not have a credit history


The debt should be identified as being in bankruptcy or discharged in bankruptcy. It will remain on the list for 7 years. The bankruptcy will remain on the report for 10 years.



You do not have to necessarily get credit counseling before you can file for bankruptcy.


It depends on which debts are discharged in your bankruptcy. There are several types of debts, such as student loans, which consistently persist through bankruptcy. Moreover, you may be liable even for debts that traditionally are discharged, such as credit card debts, where there is even of bad faith and manipulativeness on your part, i.e. you racked up thousands in credit card debt in the days before filing for bankruptcy.



Between five (5) and six (6) years, depending on how long it took to discharge the chapter 13 bankruptcy. Generally a total of ten (10) years after the bankruptcy appears on your credit report is required before applying for prime credit. The average chapter 13 takes 4-5 years to be discharged, leaving about 5 years of having the bankruptcy still on your credit report.


yes and it is on your credit report for 10 years.


It will remain on the report for the required length of time and should be marked "included in bankruptcy."


No, it cannot be removed but the information can be amended to read correctly. A bankruptcy discharge remains on a credit report 10 years from the date of discharge.


The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.


The debts which were wiped out in bankruptcy still stay on your credit report, but they should be listed as "Discharged in bankruptcy." They will still stay on your credit for 7 years (they don't get extended to 10 years like the Chapter 7 just because they were discharged in bankruptcy). Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.


seven years It is irrelevant whether the bankruptcy is discharged or dismissed when it pertains to the time it is recorded on the credit report, the time limit is ten years.


You present proof that the repossession never occured. You can dispute it with the credit reporting agency.


If the bankruptcy was discharged more than 2 years ago, it may be disregardedIf the bankruptcy was discharged within the last 1 to 2 years, it is probably not possible to determine that you and/or your spouse are a satisfactory credit risk unless both of the following requirements are met:you and/or your spouse have reestablished satisfactory credit, andthe bankruptcy was caused by circumstances beyond your and/or your spouses control (such as unemployment, medical bills, etc.)If the bankruptcy was discharged within the past 12 months, it will not generally be possible to determine that you and/or your spouse are satisfactory credit risks.



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